I can't see how you wouldn't combine an extension from the new library onto the south-side City Hall building, and the North side Bow Valley College. Something with an indoor corridor just makes sense there as the official hub for all connection points. They won't cannibalize Olympic Park, and they can't just knock down the Church and Rocky Mountain Plaza to accomodate. Any further west and your impacting the Hyatt / Telus Convention Centre (not likely) and you can't demolish historic buildings on the north side of the tracks.
Only thing they can do is really do a great job of removing the Central Library and putting up something awesome.
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